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While the trade compliance focus these days tends to be on Russia and the hundreds of sanctions imposed, one old issue remains: The Arab League Boycott of Israel. Despite improving relationships between Israel and some of its neighbors, progress has not been uniform and risk remains.
In this podcast, Matt Silverman, Global Trade Director and Senior Counsel at VIAVI Solutions and author of the chapter “U.S. Antiboycott Laws: Understanding the Impact and Ensuring Compliance” in the Complete Compliance and Ethics Manual, explains that the boycott prohibits companies and individuals from doing business in Israel or with other companies that do business with the country. The US antiboycott law makes it illegal for US companies and persons to support the boycott, or, for that matter, any boycott that the US does not endorse.
It would seem simple enough, but it isn’t. Individuals not familiar with the issue may not think twice of signing an agreement that says the company will follow the laws of the country where the sale is made. What they may not realize is that the country has laws on its books prohibiting business with Israel.
Examples of boycott language can be found on websites of the US government.
To comply with the US antiboycott law, both in the Middle East and elsewhere where boycotts may be in place, it is essential that employes be trained in what to watch out for. The company should also have an antiboycott policy. In addition, companies need to remember that there is an obligation to report any boycott requests.
Listen in to learn more or read the chapter about the topic in the Complete Compliance and Ethics Manual.